Sun Pharma buys US co Chattem

AHMEDABAD: Sun Pharmaceutical Industries has acquired 100% ownership in a US-based Chattem Chemicals (Chattem) from Elcat. The terms of the transaction were not disclosed. The company will apply to regulatory authorities for appropriate clearances. Roughly, the market size of controlled substances formulation product is $6 billion.

According to the company, the acquisition brings a business that holds import licences for concentrated poppy straw (CPS), among several other narcotic products. Chattem is registered with the US Drug Enforcement Administration (DEA) as a narcotic raw material importer.

This import registration includes four controlled substance products listed in Schedule 2���methamphetamine, phenylacetone, raw opium and concentrate poppy straw. Additionally, it is also licensed by the DEA to manufacture Schedule 1 to 5 controlled substances.